Market Activity
The Board’s media relations work in today’s market
There has been heightened media attention surrounding local real estate in the past six months as housing market conditions have changed from the record-setting pace of recent years. The resulting coverage has generated strong opinions from members unhappy with some of the interpretations of today’s market. The Board maintains a vigorous media relations program that actively seeks opportunities to get key messages in the media.
The principal objective of the Board’s media relations work is to ensure REALTORS® are seen as credible, reliable sources of real estate information.
In today’s market, REBGV president, Dave Watt, has had a consistent presence in the local media, representing REALTORS® and the organized real estate community. In press coverage across all media, Mr. Watt routinely conveys the Board’s key messages. For example, on December 2 he appeared on the CKNW morning show to discuss the market and three days later garnered an 800 word article in The Vancouver Sun.
The Board’s Communications department maintains a regular dialogue with the major media outlets. The purpose of this dialogue is to ensure real estate-related coverage contains the highest level of statistical accuracy and contextual perspective possible. As a result, considerable press coverage not quoting REBGV spokespeople is still aided, even tempered, by media communication with the Board.
Real Estate Board of Greater Vancouver third quarter Media Analysis
Between July 1, 2008 and September 30, 2008, the Real Estate Board of Greater Vancouver’s media monitoring program identified 88 articles or columns that the Board or our members generated, were referenced in or facilitated. This represents a 24 per cent increase from the 71 stories identified in the second quarter of 2008. The Communications department fielded 54 requests from the media this quarter, an increase of 17 per cent from the 46 enquiries in the preceding period. Of the media requests this quarter, 24 came from print media, 18 from television, 11 from radio media and one from an online press representative.
Board spokespeople were most often sought, nearly three-quarters of all requests, for their real estate knowledge and insights into market activity. The Communications department generated over 16 newspaper articles, 12 television news stories and eight radio reports from the five media releases distributed this quarter.
Aside from interest in market conditions, other notable media enquiries this quarter involved the Board’s response to published accounts of increased land title fraud in BC, as well as public remarks by a Maple Ridge councilor questioning whether REALTORS® should be permitted to run for city council.
As part of our media monitoring program, the coverage the Board or our members receive is measured for tone. Tone is a qualitative measurement of whether the coverage delivered the Board’s message, if it held the Board and our members in a positive light and whether it reached our target audience. An analysis of these criteria determines if the tone of the coverage was positive, negative or neutral. Of the 88 stories identified this quarter, 4 per cent (3 stories) were negative, 28 per cent (25 stories) positive and 68 per cent (60 stories) neutral in tone.
Highlights:
- REBGV President Dave Watt was interviewed 18 times and Vice-President Jake Moldowan spoke to media on three occasions
- Real Estate Monthly (REM), August edition 2008– “New course offers advanced ethical leadership”(article details joint ethical program created by REBGV & FVREB and names all 19 REALTOR® graduates.)
- Georgia Straight, Aug. 7, 2008—“Real-estate pros say media influence buyers”
Press releases issued by REBGV: Five
- July 2 – July statistics release. Headline: Market activity offers awaited relief for homebuyers
- July 3 – FINTRAC requirements. Headline: REALTORS® required to verify client identity
- July 8– REBGV Electronic Recycling Week. Headline: REALTORS® amass thousands of electronic items for charity
- Aug. 5 – Aug statistics release. Headline: Month-over-month housing prices retreat from record highs
- Sept. 3 – Sept. statistics release. Headline: Summer lull sees properties stay on market
